Ceramic Tiles Market is expected to create an incremental $ opportunity of US$ 157 Bn by the 2030 end
Category: Chemicals & Materials Published Date : May 2022 ID: CVC-00113-CH Format: PDF Pages: 298
Global Ceramic Tiles Market Size Analysis
According to a research analysis conducted by ChemView Consulting, in 2022, the Global Ceramic Tiles Market was worth US$ 235.2 Bn and is expected to grow at a CAGR of 6.6% over the forecast period. The market is expected to hit US$ 392.2 Bn by 2030 end.
Why does the Flooring application segment hold the highest market share in the Ceramic Tiles Market?
In 2021, the flooring application segment held a 53.6% market share. Increasing demand from commercial construction, such as hotels and shopping malls, is expected to drive product demand because these tiles are both cost-effective and aesthetically pleasing.
The growing influence of designers and architects in using porcelain tiles and flooring in commercial applications is expected to drive up product demand. These products’ easy cleaning, stylish designs, and stain and water resistance will likely drive their demand in commercial flooring applications over the forecast period.
Why is the Residential sector expected to create the incremental $ opportunity during the forecast period?
The residential segment controls the majority share of the market. The exponential rise in population and government initiatives to build houses for the economically disadvantaged section of the community have increased residential construction activities, thereby increasing demand.
New construction project models, such as apartment buildings and single-family homes, drive residential replacement and renovation growth, boosting ceramic tile sales.
The demand for home remodeling is gradually increasing as homeowners seek to update their existing decor with newer, more sustainable materials. Ceramic tiles are becoming popular for remodeling projects because they are inexpensive and long-lasting.
Furthermore, the advanced benefits provided by ceramic tiles, such as sustainability and durability, make them suitable for use in green building schemes. This trend will continue in the coming years, driving market sales.
Why does Asia-Pacific account for the largest market share in the Ceramic Tiles Market?
Due to the region’s fast socio-economic growth, Asia Pacific is the most attractive market for ceramic tiles. Asia-Pacific held the highest market share of 43.2% in 2021 in terms of value.
The demand for ceramic tile materials in this region is fueled by an increase in the number of new dwelling units and massive expenditures in the infrastructure sector. Increased demand for ceramic tiles in countries such as China, India, Thailand, Indonesia, and Vietnam is also driving market expansion in the APAC region, owing to a considerable rise in building prospects in these nations.
Furthermore, introducing smart cities in India has increased the demand for ceramic tiles. Government-funded projects such as road networks, water supply channels, power-related infrastructure, hospitals, and universities are growing demand in the country for ceramic tiles.
Which sector in North America will create the highest opportunity for the ceramic tile market?
North America is expected to witness healthy growth in the market. The recent trend of personalization and customization will increase energy-efficient buildings for commercial and governmental offices is anticipated to drive the market in North America.
Another factor influencing the sales outlook of the ceramic tiles market in the United States is the rapid expansion of infrastructure projects across the country, such as hospitals, shopping malls, hotels and resorts, and universities, to name a few.
Due to the presence of numerous players, the global market is fragmented. Key players’ dominance is determined by their production capacity, brand recognition, product offerings, and innovative strategic partnerships and acquisitions.
To improve its visual appeal, market companies are focusing on adding a variety of shapes, sizes, designs, and styles. Key players’ dominance is determined by their production capacity, brand recognition, product offerings, and innovative strategic partnerships and acquisitions.
Some key developments:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Product Type:
By Construction Type:
By Region and Country:
Global Ceramic Tiles Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||Product Type, Application, Construction Type, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|